Media giant Walt Disney Co
Here are the earnings estimates, what analysts are saying ahead of the report and the key items to watch.
Disney Q3 Earnings Estimates
Analysts expect Disney to report third-quarter revenue of $25.40 billion, up from $23.65 billion in last year's third quarter, according to data from Benzinga Pro.
The company has beaten analyst estimates for revenue in two straight quarters and in six of the past 10 quarters overall.
Analysts expect Disney to report quarterly earnings per share of $1.86, up from $1.61 in the past year's third quarter.
The company has beaten analyst estimates for earnings per share in 12 straight quarters.
Disney Analyst Ratings and Price Targets
While some may see the streaming segment as a strength for Disney, Wells Fargo analyst Steven Cahall recently wrote that exiting the streaming business could boost Disney's share price by 40%.
The analyst maintained an Overweight rating on the stock and lowered the price target from $146 to $125.
Cahall said the move would allow Disney to refocus on licensing and content creation, two of its key strengths.
"We lay out the case for DIS to return to its old biz model of producing versus distributing," Cahall said.
The analyst said Disney could earn around $4 billion annually from global licensing rights alone, along with $15 billion or more for the company's content library. The items together would be a better cash generator than Disney's direct-to-consumer business, the analyst said.
Here are other recent analyst ratings on Disney stock and their price targets:
- Citigroup: Maintained Buy rating, lowered price target from $145 to $135
- UBS: Maintained Buy rating, lowered price target from $138 to $133
- Barclays: Maintained Overweight rating, lowered price target from $135 to $110
- Benchmark: Initiated with Buy rating, price target $115
Investors and analysts have priced Disney stock for more negativity ahead with lower price targets and the stock nearing a 15-month low.
Mixed box office results of hit franchises could be one of the key reasons. "Toy Story 5" was a success at the box office, with more than $1 billion in global revenue, ranking as the top domestic movie for the year currently.
"Star Wars: The Mandalorian and Grogu" didn't fare as well, with $177.7 million domestically and $345.1 million globally. This ranks among the lowest totals in Star Wars history. The film still ranks as the 10th highest domestic-grossing film.
Also ranking in eighth place is "The Devil Wears Prada 2" with $220.6 million domestically.
Those three films were all released in May and June and will go up against a 2025 period that had "Lilo & Stitch," which grossed $423.8 million domestically and over $1 billion worldwide.
The three films should come in higher than last year's comparable period and could provide some upside depending on the cost of "Star Wars: The Mandalorian and Grogu."
Disney could also get investors excited with commentary on the record-breaking "Spider-Man: Brand New Day." The film comes from Sony, but Disney gets a portion of revenue and the performance could also set up a strong prediction for "Avengers: Doomsday."
The latest Avengers film will be released in theaters on Dec. 18. The film took in $16.5 million in ticket sales on its first day, as reported by Variety.
"Avengers: Endgame," released in 2019, brought in $858.4 million domestically and $2.80 billion worldwide, ranking second all-time for both categories.
Avengers ensemble films have performed among the best Marvel films and "Doomsday" could be just the spark that Disney stock needs going forward. Expect Disney to highlight this upcoming film slate.
Another area that could be a key topic, but might not be good for the stock, would be politics.
Disney recently issued a 109-page letter alleging the Federal Communications Commission has launched a "retaliation" campaign against the company on behalf of President Donald Trump.
Disney could lose TV licenses for several network channels. The FCC has targeted the company's "The View" for not following political guest rules. Disney's decision not to have ABC air a speech by Trump also led to a public callout by the president that could factor into license decisions.
Investors and analysts will also be looking at networking and DTC segments to see if advertising revenue is strong and how Disney+ is performing.
Another weak quarter for those areas could see renewed pushes for Disney to consider spinning off or splitting up units to unlock shareholder growth.
Disney Stock Price Action
Disney stock is up 0.29% to $98.43 on Tuesday versus a 52-week trading range of $92.19 to $119.78. Disney stock is down 12.1% year-to-date in 2026 and down over 17% in the last 52 weeks.
